Gross Direct Premium Income (GDPI) of the Company stood at ` 133.13 billion in FY2020 compared to ` 144.88 billion in FY2019, a de-growth of 8.1%. Excluding crop segment, GDPI of the Company increased to ` 133.02 billion in FY2020 compared to ` 120.36 billion in FY2019, registering a growth of 10.5%. This was in line with the industry growth (excluding crop segment).
GDPI of the Company stood at ` 31.81 billion in Q4 FY2020 compared to ` 34.85 billion in Q4 FY2019. Excluding crop segment, GDPI of the Company increased to ` 32.44 billion in Q4 FY2020 compared to ` 31.53 billion in Q4 FY2019, registering growth of 2.9%. The industry growth (excluding crop segment) for Q4 FY2020 was 4.3%.
Combined ratio* stood at 100.4% in FY2020 compared to 98.8% in FY2019 primarily on account of long-term motor policies, change in product-mix and losses from catastrophic events.
Combined ratio* stood at 100.1% in Q4 FY2020 compared to 99.0% in Q4 FY2019.
Profit before tax (PBT) grew by 6.2% to ` 16.97 billion in FY2020 from ` 15.98 billion in FY2019 while Profit after tax (PAT) grew by 13.8% to ` 11.94 billion in FY2020 compared to ` 10.49 billion in FY2019.
PBT grew by 7.3% to ` 3.71 billion in Q4 FY2020 as compared to ` 3.45 billion in Q4 FY2019 while PAT grew by 23.8% to ` 2.82 billion in Q4 FY2020 from `2.28 billion in Q4 FY2019.
Return on Average Equity (ROAE) was 20.8% in FY2020 compared to 21.3% in FY2019.
ROAE was 18.8% in Q4 FY2020 compared to 17.5% in Q4 FY2019.
Solvency ratio was 2.17x at March 31, 2020 as against 2.18x at December 31, 2019 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.24x at March 31, 2019.